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Rethinking Industrial Policies for Sustainable Growth: Insights and Debates

Explore the debate on normalizing industrial policy for sustainable growth, analyzing mainstream development discourse, trade liberalization, good governance, and challenges faced by developing countries in implementing strategic industrial policies. Discuss issues like inclusive growth, human development, and changing global conditions. Reflect on the role of politics, lessons for countries with low state capacity, and the impact of global production networks. Delve into the complexities of market, state, and network failures in industrial development.

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Rethinking Industrial Policies for Sustainable Growth: Insights and Debates

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  1. Industrial Policy on the Rise Comments by Laurids S. Lauridsen Roskilde University

  2. Normalizing industrial policy? (1) • “The necessary transition to a more sustainable, inclusive and resource-efficient economy will have to be supported by both horizontal and sectoral policies at all levels and will require strengthened European governance and social dialogue” [EC COM(2010)614, 4] • ”The present round of industrial policy will no doubt produce some modest successes – and a crop of whopping failures” (The Economist August 7th 2010, 56)

  3. Normalizing industrial policy? (2) • “Encouraging broad-based and inclusive growth does not imply a return to government-sponsored industrial policies, but instead puts the emphasis on policies that remove constraints to growth and create a level playing field for investment” (The World Bank, “What is Inclusive Growth, 2009, 1)

  4. The core argument • The mainstream developmentdiscourse • Trade liberalisation (DDA) and FDI • Comparative advantage following approach • Good Governance • Soft individualised issues - • Property rights (de Soto) • MDG • Micro-credit (Yunus) • A new (old) development discourse • Bring production back in • PONEs, domestic savings and collective efforts • Strategic industrial policy – market-defying interventions • Developmental state (balanced SBRs) • Add-on issues: • Inclusionary growth • human dev., low-carbon and technological capabilities • ideas, politics

  5. Issues for discussion • A difference?: Wade on ”self-discovery” and ”followership” versus Chang on market-defying interventions • SBRs – any room for integrating “a labour point of view”? • Feasibility? • What are the lessons for countries with low state capacity? • What the role of “the politics” of industrial policy making? • Changing global conditions • Global production networks/global value chains • The organisational decomposition of the innovation process • The shrinking policy space (WTO and bilateral trade/investment agreements) • Does China make a difference – Africa? The post-2000 experience?

  6. SBR relations – centralised versus decentralised • Start-up versus Catch-up industrialisation • Diversification, Deepening and Upgrading • Market failure, state failure and network failure

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